In mid-November Baku to Host an International Banking Conference
From 14 to 17 November 2012 the Financial and Banking Council, with the support of the International Bank of Azerbaijan and the CIS Executive Committee will hold a commemorative V Baku International Banking Conference of states - participants of CIS on "CIS financial markets: opportunities and global risks."
The program of the Conference 2012 includes questions of national and international development institutions, the banking systems of the CIS countries in the new regional associations, as well as other important issues.
The plenary sessions will discuss issues such as: increasing the stability of the financial markets of the CIS in the ongoing global economic crisis, the new possibilities of interaction with the adoption of the Free Trade Area of ??the CIS, the introduction of alternative financial products and advanced technologies, the development of Islamic banking in the CIS, ability to attract public funds to the development efforts of the Commonwealth.
The upcoming Conference will be attended by representatives of governments and ministries of states - participants of CIS, international development institutions, as well as heads of national (central), and the largest banks of the Commonwealth, Europe and Asia. Information support will be the mainstream media of the Commonwealth. -15D -
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- Politics
- 30 October 2012 17:32
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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